PORT, an urban logistics company operating in the UK, has raised €14.5 million in a round led by the European Bank for Reconstruction and Development (EBRD) and Balnord, with existing and new investors also taking part. The financing combines equity and debt. It brings total funding to €29 million, after €14.5 million raised earlier through pre-seed and seed rounds.
Founded in 2020 and led by CEO Kamil Suda, PORT runs a network of microhubs and charging stations. It offers e-bike subscriptions that let delivery couriers use electric vehicles without owning or maintaining them. The platform serves more than 50,000 couriers and a fleet of about 3,500 e-bikes.
The company operates 24 microhubs across London, Manchester and Birmingham, covering around 52,000 square feet. Sites include underground car parks, warehouses and railway arches, where vehicles are stored, charged and deployed close to high-demand delivery areas.
PORT is now building a proprietary AI Driver and autonomous delivery vehicles. Some of its e-bikes carry NVIDIA-powered cameras and lidar sensors that record conditions on London's streets, including kerbs, cyclists and delivery locations, as well as less common scenarios. The data is uploaded and processed automatically when the bikes return to a hub, and is used to train the AI Driver.
Suda said robotised logistics starts with infrastructure, operations and data rather than the robot, and that the company has spent years building that base. PORT has also added parcel deliveries by cargo bike as an alternative to diesel vehicles.
The company is preparing the next stage of its autonomous work with Royal Mail, focused on a new robotic delivery system. The new funding will go towards the AI Driver, the autonomous vehicles and wider autonomous logistics capabilities, along with faster hiring in research and development and AI teams.
